Categories: Tech

Sequoia, Binance, and other investors back Musk’s bid for Twitter

A group of about twenty investors has decided to support the acquisition of Twitter from Elon Musk con 7.1 billion dollars. There are investors Sequoia Capitalthe crypto exchange platform Binance and the co-founder of Oracle Larry Ellison.

Several investors back Musk’s offer for Twitter

The biggest check comes from Larry Ellison, which also invests in Tesla, which will give Musk a billion dollars. Sequoia Capital will instead invest 800 million dollars, VyCaptial 700 million, Binance half a billion e Andreessen Horowitz 400 million.

Binance founder Changpeng Zhao says he is “excited to help Elon realize his vision for Twitter. We hope he can bring social media and the web3 together and broaden the use and adoption of cryptocurrencies and blockchain technology “.

Among the investors also the Qatar, which has anti-liberal laws on free speech. Even the Saudi prince Al Waleed bin Talal Al Saud will provide 35 million Twitter shares to maintain an interest in the company. Musk has specified that he is in contact with other shareholders including Jack Dorsey to keep an interest.

These investments allowed Musk to turn down the loan by Morgan Stanley from $ 12.5 billion to $ 6.25 billionincreasing personal investment a 27.25 billion.

These new investments should help the billionaire secure the necessary funds to permanently acquire Twitter and be solvent. But it is not clear if they will be able to have say in the matter regarding the management of the company once taken over. We will keep you posted.

Published by
Walker Ronnie

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